I am not a protective father: Anil Kapoor

New Delhi, Jun 9: Multiplex operator PVR on Monday said it has cut salary across various levels, laid off employees and deferred increments during the lockdown to mitigate adverse impact of COVID-19 on the business.

The company said at present it is not generating any revenue from exhibition business and related activities as cinemas across the country are shut following the directions from the regulatory authorities.

According to the company, closure of screens during the lockdown will have a significant negative impact on profitability and liquidity.

PVR has taken measures to reduce its personnel cost, including salary cuts across various levels in the organisation during the lockdown along with "reduction in headcount by way of layoffs/retrenchment" to mitigate the adverse impact of COVID-19 on the business.

Moreover, the board of the company, in its meeting held on Monday has also approved plan to raise Rs 300 crore through rights issue.

"Since Cinema Exhibition is the only business segment, company is currently not generating any revenue from admissions, food and beverage sales or other revenue and cash flow from operations," said PVR in an update.

Beginning from March 11, PVR started closing its screens in accordance with the order passed by various regulatory authorities and within a few days most of our cinemas across the country were shut down, it added.

The company will continue to incur committed cash outflows, including employee salary pay-outs, other overheads as well as payments for older working capital.

"This has and will have a significant negative impact on profitability and liquidity during lockdown and even thereafter till business comes to normalcy," it added.

Further, once the cinemas are re-opened, we may not be able to run our cinemas at normal capacity utilisation levels on account of social distancing measures that cinemas may be required to follow as well as health concerns that the patrons may have, the multiplex operator said.

"On account of this, our revenue and cash flow generation may be impeded even once we are allowed to restart operations," it added.

The company has also deferred decision on on increments to reduce its cost, it added.

PVR has also written to developers for waiving rental and CAM (Common Area Maintenance) charges for the lockdown period.

It is in discussion with developers for reducing rentals post re-opening and has invoked force majeure clause in its agreements with them.

Besides, the company has raised additional borrowings from existing bankers to shore up liquidity.

"As of March 31, 2020 the company had cash and bank balance of Rs 316 crore. As on June 7, 2020 cash and bank balance is Rs 227 crore (including undrawn bank lines)," it added.

Over reopening of theatres, PVR said that the government has come out with a phase-wise schedule.

In these guidelines cinema halls have been kept in the third phase of re-opening, where dates will be decided based on assessment of the situation.

"We are in continuous engagement with all regulatory authorities and hope to receive the necessary permissions for restarting opening in the near future," it added.

Currently PVR operates 845 screens in 176 properties in 71 cities.

Patna, Jan 22: Actor Kangana Ranaut has expressedher desire to make a movie on Chandragupta, the shepherd-turned-emperor who founded the Maurya dynasty, noting that the film industry has “not done enough justice to our history”.

The national award winner was here to take part in a programme organised by the publishers of a leading Hindi daily where she performed a jig to the tunes of Bhojpuri songs along with actor-turned-politician Ravi Kishan before the duo participated in a question and answer session.  Replying to the questions posed by Kishan, who is also the BJP MP from Gorakhpur, Ranaut on Tuesday said it was her second trip to Bihar.

“The last time, I was here as a child though I have not yet got a chance to explore the state with which I feel a connect as my Yoga teacher has his roots here,” she said.

Ranaut, who won acclaim for portraying Rani Laxmibai, the valiant queen of Jhansi who took on the British during the revolt of 1857 -- in ‘Manikarnika’, when asked if she would like to be associated with a film on any historical figure from Bihar, said, “It would be Chandragupta Maurya. The film industry has not done much justice to our history”.

A self-confessed admirer of Prime Minister Narendra Modi, the 32-year-old, who has won three National Awards in the Best Actress and Best Supporting Actress categories, replied in the affirmative when asked about reports that she has turned producer and her first venture is based on the theme of Ram temple in Ayodhya.

The Himachal Pradesh-born actress, who has courted controversy for taking on well-entrenched Bollywood “insiders” like Karan Johar and Hrithik Roshan, said she has had a rebellious streak since childhood and shared an anecdote about her breaking her teacher’s stick upon being hit for chatting with a classmate in school.

When Kishan asked why she has gained so much weight, Ranaut replied it was in preparation for her upcoming biopic “Thalaivi”, based on late Tamil Nadu Chief Minister J Jayalalithaa.

The actress said her forthcoming release “Panga” is a family drama.

Ranaut said after landing in Patna, she gorged on ‘Litti Chokha’, a local delicacy.

She also regaled the audience by greeting them in Bhojpuri and repeating several commonly used phrases of the dialect after Kishan.

Hollywood star Angelina Jolie feels discrimination and impunity cannot be justified in any way, and says she hopes people in the US can come together to "address the deep structural wrongs in our society".

The Oscar-winning star, who turned 45 on Thursday, also donated $200,000 to the NAACP Legal Defense Fund, reports people.com.

"Rights don't belong to any one group to give to another. Discrimination and impunity cannot be tolerated, explained away or justified. I hope we can come together as Americans to address the deep structural wrongs in our society," Jolie said.

"I stand with the NAACP Legal Defense Fund in their fight for racial equality, social justice, and their call for urgent legislative reform," she added.

Meanwhile, the actress celebrated her birthday amid lockdown with her six children -- Maddox, 18, Pax, 16, Zahara, 15, Shiloh, 14, and 11-year-old twins Knox and Vivienne.

The actress and activist has been active since the COVID-19 pandemic spread around the world and has donated to different organisations.

Jolie previously donated $1 million to No Kid Hungry, the organisation working to feed children during the COVID-19 pandemic.

"I knew that there were problems in America, that there was poverty, but I could not believe when I realised how many school children in America were dependent on a meal to not go hungry. I was so disgusted that we have gotten to this point as a country and that we would let the most vulnerable be in such a state. I can't imagine what it feels like for those parents," she said while opening up about her reason to get associated with the organisation.